Oklahoma's Latest Farm
And Ranch News

Your Update from Ron Hays of RON
Monday, April 12, 2021

CoBank Quarterly: U.S. Economy Gathers Momentum, Policy Decisions Will Reshape the Future
The U.S. economy continues to outperform expectations as stimulus funds are fueling robust consumer spending. Consensus forecasts point to 7% GDP growth for 2021, the fastest rate of expansion since 1984. Inflation is inevitable, however, as the 2020 price declines will widen year-over-year inflation over the next two quarters, and new upward price pressure should push headline inflation above 3%.

The transition to a less COVID-restricted world has begun. But for the economy and rural industries, there will be no going back to pre-COVID conditions. A transformed policy environment and awakened commodity markets are making way for a whole new operating environment, according to the new Quarterly report from CoBank’s Knowledge Exchange.
“The policy focus in Washington is shifting from crisis management to building for the future,” said Dan Kowalski, vice president of CoBank’s Knowledge Exchange division. “And the outcome of the president’s infrastructure plan will have substantial implications for rural water, power and broadband providers. Hundreds of billions of dollars in funding would reshape these industries and intensify the current focus on climate resilience and social equity.”

The cyclical turn in grain pricing, driven by strong demand and tight stocks, continued during the first quarter of 2021 and has picked up further gains ahead of spring planting. Accumulated grain exports to China have been very strong. While the backdrop for the grain and oilseed complex is positive, there are issues worth monitoring that could result in price volatility in the coming months. A recent surge of African Swine Fever (ASF) in Asian countries could temporarily slow soybean demand.

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Host KC Sheperd sat down with Dr. Brett Carver, Regents Professor
Wheat Genetics Chair in Agriculture, Wheat Breeding and Genetics in his office on the Oklahoma State University campus in Stillwater and talked about a variety of subjects- all relating back to his passion for breeding wheat. He offered his take on how the 2021 wheat crop has handled the historic freeze the southern plains dealt with in February of this year, reviewed the wheat varieties that have come out of his program and looked ahead to what might be coming next.

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Tim West
President/General Manager
Radio Oklahoma Ag Network

2401 Exchange Avenue,
Suite F
Oklahoma City, OK 73108

405.317.6361
Ron Hays
Director of Farm Programming
Radio Oklahoma Ag Network

405.473.6144